There are meetings taking place to try to quench the financial fires, that are raging in many corners of the world at this moment in time.
In the United Staes, there was a meeting in Washington, which took place between the leaders of the G-7 countries, from which the Secretary of the Treasury came before the American people to announce that, the Government would be infusing liquity into the banking system, and taking stock as collateral,instead of receiving interest.
This is an effort to stem the freeze-up of lending between the banks, Also to allow banks to begin to lend to consumers. Why won't they just do it instead of talking about it? The longer this blockage is in place the more the stock market will gyrate, and the more days we will have like this past week. Then we get a news report that Ford, General Motors and Chrysler are facing possible bankruptcy. Two of them are in merger talks, it was also reported, General Motors and Chrysler. So next week we will possibly see more of the same roller coaster ride as the past week.
Someone made a point, when speaking about the financial crisis here in the United States, it was Oliver Stone, who was promoting
his new movie, W., that this crisis might be the answer, to creating a reason to end the perpetual warring. If there is no money to wage wars, perhaps that will be a good thing, no money no wars. We think
we would tend to agree.
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Boring is not a bad thing, especially if it is a smart thing.
2008-10-11 @ 08:52